Where have the green shoots of recovery gone now?

As the Bank of England issues one of the most depressing inflation reports in modern history, suggesting that the UK recession is deeper and far reaching than first thought, the green shoots of recovery which appeared to be breaking through just a few days ago have now disappeared. So what has happened over the last few days for the Bank of England to suggest the recession will take longer to recover from?

There is no one event which has prompted the Bank of England to issue such a damning report on the UK economy, it is more a drip feed of potentially damaging news which has caused many people to realign their thoughts and forecasts the future. The problem in the UK is the factor as we draw closer to the next general election there are many parties, on both sides of the political spectrum, with a vested interest in talking up the economy and talking down the economy. The Bank of England is very much stuck in the middle and seen as the voice of reason by economists and analysts across the UK.

Even though there has been political interference with regards to the Bank of England, which is now falling further behind the FSA (Financial Services Authority) with regards to UK regulations, the "old Lady of Threadneedle Street" is still well respected in UK financial markets.

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